Okay, so right after we just reported that Microsoft has only confirmed the existence of Xbox One S, we have a crazy update. Xbox One Scorpio is real, and it is on its way! Oh yeah—and it is going to be the most powerful console ever made.

Xbox One Scorpio will feature 6K teraflops of power , support for 4K, and high-quality virtual reality. Additional specs include 8 cores and 320GB/s of memory bandwidth. It will be backwards and forwards compatible (thank you, Microsoft—at last).

The only downside? It won’t be available until the holiday season next year. We have to wait until the end of 2017 to buy this bad boy.

Here’s what Xbox boss Phil Spencer said about Project Scorpio:

“It’s crazy to announce something this early. But when I put myself in the shoes of our customer, I want to be able to make a choice on what console I want to buy with as much information as possible. We want to give you the information to make that decision. We also want to go talk to the developers that are out there today, that are building games for next holiday, and say here’s what you’re going to have at your disposal on the console side.”

That’s actually extremely decent of Microsoft. Earlier we theorized they wouldn’t announce Scorpio at the same time as Xbox One S because they wouldn’t want to eat into Xbox One S sales. It’s great to see a company as notorious as Microsoft finally valuing consumer choice!